15 Jan 2018 11:39
Standard Life Investments Property Income Trust - Blocklisting ApplicationStandard Life Investments Property Income Trust - Blocklisting Application
PR Newswire
London, January 15
15 January 2018
Standard Life Investments Property Income Trust Limited
Blocklisting application
Standard Life Investments Property Income Trust Limited (the “Company”) has made an application to the UK Listing Authority for a blocklisting of 20,000,000 ordinary shares of 1p each in the Company (the “Shares”) to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange.
The Company continues to see strong demand for its Shares which has been reflected in the Shares trading at an average premium to net asset value of 7.7% over the last three months. The Company therefore intends to continue its issuance programme through its corporate broker, Winterflood Securities Limited, with a view to managing the Company’s premium to net asset value. Any Shares issued under the issuance programme will only be issued at a premium to net asset value (plus costs) and will be accretive to existing shareholders.
The net proceeds from the issue of new Shares will be used to reduce the Company's borrowings and/or invested in accordance with the Company's investment policy.
The blocklisting is expected to become effective at 8:00 a.m. on 16 January 2018.
For further details please contact:
| Standard Life Investments Graeme McDonald | 0131 245 3151 |
| Winterflood Investment Trusts Graeme Caton Neil Langford | 020 3100 0000 |